Saudi investor: Syria fit for investment
Saudi Arabia-Syria, Economics, 4/26/2005

Saudi investor, Prince Waleed Bin Talal on Monday said his future investments in Syria would not be affected by any political pressure on her, but they will increase regardless of those pressures.

"I call on all Arab investors, particularly Syrian investor who proved success abroad, whether in Europe or America, to invest in Syria because it is in need of them," Prince Bin Talal said in remarks on the sideline of the "Conference of Investment Market" being held in Damascus.

He considered the conference as a positive step towards enhancing investment, adding that his relation with President Bashar al-Assad has unveiled the good intentions of President al-Assad to activate and develop the Syrian economy.

"The Four Seasons Hotel in Damascus will be inaugurated during the coming months .. it is a beginning of a series of investment projects in Syria," Bin Talal confirmed to Syria's Tishreen Daily.

Meanwhile, Chairman of the Boards of Kuwaiti Trading Markets Firm, Tawfik Al-Jarah, said that "Syria has availed a stabilized ground and offered necessary facilities to enhance investment all over Syria."

"Our aim in Syria is to establish comprehensive tourist villages on a big scale that includes chalets, hotel, mall and a fun land," Jarah added in a similar statement to Tishreen Daily.

The three-day Conference on investment and tourist opportunities in Syria aims at encouraging Arab and foreign investors to launch new projects in Syria.

Meantime, Minister of Tourism said on Monday Syria has provided main incentives for tourist investments and created an adequate environment for them.

" Decisions that has been made over tourist invigoration and reactivation of investments in this field provided main incentives to encourage investment in projects of strategic tourist importance. They also created the appropriate environment to by providing facilities, " Sadallah Agha al-Qallah said at the end of three-day meeting to encourage tourist investment in Syria.

He note to legislations and procedures that allow Arab and foreigners to own lands as to build tourist projects and reschedule loans for tourist projects as well as exempting them from delay fines in addition to the issuing of the private banks law and the preparation of the investment map as well the ratification of the bill that establishes the Tourist Board for Marketing and Advertising.

Previous Stories:
  Syrian-Saudi Arabian Business Council meets in Damascus   (4/25/2005)
  Syrian - Saudi health cooperation   (4/13/2004)
  Syrian- Saudi agricultural cooperation   (7/2/2003)

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